CANADA: Premium Brands Inc. announces strategic reorganization
Premium Brands Inc. (Toronto: FFF) announced yesterday that it has entered into an agreement with Saskatchewan Wheat Pool ("SWP") to acquire 3,381,182 shares in the Corporation, representing the 41% control block of Premium Brands owned by SWP, for a total purchase price of $46.3 million. Pursuant to the transaction, the majority of SWP's shares in Premium Brands will be repurchased by Premium Brands. In addition, Raymond James Ltd., a full service investment dealer and financial advisor to Premium Brands, will purchase 292,099 of the SWP shares in Premium Brands for $4 million. The remaining shares of Premium Brands held by SWP are to be sold to the public pursuant to a secondary offering in conjunction with a treasury offering by the Corporation.
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